(WORLD TRADE ORGANISATION) Presented By:-

Vartika DalelaYozana Singhal

WTO was formed on 1st jan,1995. It took over GATT (General agreement on

tariffs & trade). In 8th round of GATT, popularly known as Uruguay Round, member nations of GATT decided to set up a new organization, ‘World Trade Organization’ in place of GATT.

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•A Forum where member countries met from time to time to discuss & solve world trade problems . •It Enjoys identical legal status , privileges , Immunities that the world bank & IMF get .

The WTO was born out of the General Agreement on Tariffs and Trade (GATT).

Headquarters : Geneva, Switzerland

Formation : 1 January 1995

Membership : 153 member countries

Founder : Pascal Lamy

Budget : 163 million USD (Approx).

GATT

It is asset of rules and a multi lateral agreement.

It had contracting parties.

It was applied on provisional basis.

WTO

It is a permanent institutions.

It has member.

Its activities are full and permanent.

The primary aim of WTO is to implement the new world trade agreement.

To promote multilateral trade .

To promote free trade by abolishing tariff & non-tariff barriers.

To enhance competitiveness among all trading partners so as to benefit consumers.

To increase the level of production & productivity with a view to increase the level of employment in the world.

To expand & utilise world resources in the most optimum manner.

To improve the level of living for the global population & speed up economic development of the member nations.

To take special steps for the development of poorest nations.

Increase in foreign trade.

Increase in agricultural exports.

Increase in inflow of foreign investment.

Improvement in services.

Benefits for clothing & textile industry.

Inflow of better technology & better quality products.

Benefits of multilateral trade system.

Benefits of using quality seeds & new varieties of plants.

Restricts dumping.

Introduction. After over 7 years of negotiations the multilateral

trade negotiations were concluded on December 1993 and were formally ratified in April 1994 at Marrakesh, Morocco.

The WTO Agreement on Agriculture was one of

the main agreements which were negotiated

The WTO Agreement on Agriculture contains provisions in 2 broad areas of agriculture.

1. Domestic support.2. Export subsidies

It measures that have a minimum impact on the trade also known as green box policies . It includes general government services like : As in the areas of research , disease control , infrastructure and food security . Also includes direct payments to producers in form of income support etc .

The Agreement contains provisions regarding members commitment to reduce Export Subsidies.

Developed countries are required to reduce their export subsidy expenditure by 36%.

For developing countries the percentage cuts are 24%.

India, as a developing economy, has been benefittedbeing a founding member of the World tradeOrganization.

The country at large has seen manysignificant changes which have taken place after theformation of WTO.

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